Crystallex International

The Venezuelan Corporation of Guayana notified Crystallex that the concession granted for the exploration and operation of the mine the Cristinas arrived at its aim, last night informed transnational Canadian in its page Web. The news corroborates the exclusive right that published Mail of the Caroní in November of the past year.

Panoramic Vista of the camping the Cristinas to the south of the state Bolivar. Photo William Urdaneta

Crystallex, with soothes in Toronto, indicated in an official notice in its page of Internet that received a letter of the Venezuelan Corporation of Guayana (CVG), which informs to him that the contract that had the company to operate the mine of the Cristinas “it has been cancelled in unilateral form”.

It indicated that along with the letter a copy came from a resolution of CVG that formalized the decision, which was taken under the argument from which Crystallex had not acted around the project for more than a year and also for “reasons of opportunity and convenience”.

The company said that it had perform one's duty stipulated in the contract and was preparation the place, leaving it ready to begin its operation while it waited a permission of the ministry of the environment.
This ministry denied its request to him for a permission in April of the 2008 although “Crystallex fulfilled the requirements” to receive it, indicated the transnational company.

Millionaire investment
Crystallex considered to the mine of the Cristinas in the southern state of Bolivar like its main assets, because it calculates that it contains about 481 thousand grams (17 million ounces) of gold.

The government of president Hugo Chavez did not emit a reaction immediately. The past year the agent chief executive threatened retire the concessions for the gold mining in the country, blaming the miners to damage the environment and to violate the rights of the workers.

Crystallex said that it is “reviewing his position in the light of this correspondence” of Venezuela, and “considering (to take) all the steps necessary to protect its investment in the name of all shareholders, including the presentation of a reclamation of international arbitration”.

Expectations in door
Whatever company that begins to operate the deposit the Cristinas, located to the south of the state Bolivar and considered one of richest of Latin America, the adjacent towns to this one like the Claritas, kilometer 88, Dorado and Tumeremo hope that finally the prosperity arrives at its earth, according to reviewed the note of Mail of the Caroní, published in November of 2010.

Although there are million ounces of proven gold reserves under grounds of the Sifontes municipality, like it also happens in the locality of Callao and Guasipati to the south of Bolivar, the inhabitants they lack the basic services and they would seem to be forgotten the organization, being for many one of the greatest contradictions.

It is for that reason that the opening of the deposit brings many expectations by the possibility that they are generated more than 3,500 uses and a great movement towards that zone so depressed and affected by the application of mining alternatives to attack the illegality. (AP)